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Introductor...

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The last photo is

simply the options for the
drops down menu which is the same for
all questions.
Show transcribed image text
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anonymous answered this

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24,704 answers

-There are hundreds of high school students.....- yes meets all

assumptions.

There are many buyers of tutoring services and many sellers of

tutoring services providing same services of
same quality.

-there are hundreds of colleges........ - no, not an identical

product

Colleges vary in terms of educational quality, size and

location. This implies good is not identical.

- A few major airlines.......- no, not many sellers

There are not large number of airlines.

- the government has granted.......- no, no free entry

Government has given exclusive right to US postal services which

means no new firm can do so and hence
cannot enter.

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Q: 1. Characteristics of competitive markets

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1.
There must be many buyers and
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Q: 1. Characteristics of competitive markets The model of competitive markets relies on these three core assumptions: 1.
There must be many buyers and sellers-a few players can't dominate the market. 2. Firms must produce an identical
product-buyers must regard all sellers' products as equivalent. 3. Firms and resources must be fully mobile, allowing
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Q: 1. Characteristics of competitive markets

The model of competitive markets relies on
these three core
assumptions:
1.
There must be many buyers and
sellers�a few players
can't dominate the market.
2.
Firms must produce an identical
product�buyers must
regard all sellers' products as
equivalent.
3.
Firms and resources must be fully
mobile,
allowing for free entry into and exit...

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